If you do get the visa, its no problem. Mrs t has a 5 year Schenegn visa (still for 90 days out of every 180 of course) and we regularly travel to countries far from the one that has issued it. Never had even a question about it. But if (for instance) Hungary will give you a visa is another question, if Spain had a good reason to decine the visa it is quite possible that Hungary know about it! (and why is France no option? Has declining the visa anything to do with that?)